Stock Market
Nila Spaces Shares Touch 52-Week Low of ₹10.03 as Nine-Month Profit Climbs
Shares of Ahmedabad-based developer Nila Spaces Ltd fell to a 52-week low of ₹10.03 on 22 October 2026, even as the company reported higher nine-month sales, operating profit and profit after tax. The divergence between the share price and reported earnings is the central point of the market coverage so far.
| Share price low | ₹10.03 on 22 Oct 2026, a 52-week low (previous 52-week low about ₹10.5 on 21 Oct 2026) |
|---|---|
| 12-month share price move | Down 46.49% over 12 months, against a 12.79% fall in the Sensex over the same period (as of 22 Oct 2026) |
| Nine-month net sales | Up 30.86% to ₹148.67 crore |
| Nine-month operating profit | Up 125.59% |
| Nine-month profit after tax | ₹25.71 crore, up 72.9% year on year |
| Q1 FY27 consolidated net profit | ₹8.5 crore, up about 44% from ₹5.9 crore (quarter ended 30 Jun 2026) |
| Promoter group holding | 61.90%, unchanged across recent quarters |
| Listing codes | BSE 542231; NSE NILASPACES |
What happened
On 22 October 2026, shares of Nila Spaces Ltd touched ₹10.03, a fresh 52-week low. The previous day, the stock had reached about ₹10.5 on 21 October 2026. Earlier in the month, the 52-week low stood at ₹10.66 on 16 October 2026, when the stock traded near ₹11.1 that morning.
On the day of the new low, the stock outperformed its sector by 0.39%, but it remained below its 5-day, 20-day, 50-day, 100-day and 200-day moving averages, according to market commentary published that day.
Over the past year the stock has fallen 46.49%, while the Sensex fell 12.79% over the same 12 months, according to the same commentary.
The nine-month results
The company's results for the nine-month period show growth on several lines. Net sales rose 30.86% to ₹148.67 crore. Operating profit rose 125.59%. Profit after tax for the same period was ₹25.71 crore, up 72.9% year on year. The company has reported positive results for three consecutive quarters, according to the same market commentary.
The period end date for the nine-month figures is not stated in that source. The commentary describes the operating profit rise as a rise of 125.59%.
Quarterly results in context
For the quarter ended 30 June 2026 (Q1 FY27), consolidated net profit was ₹8.5 crore, up about 44% from ₹5.9 crore a year earlier. Consolidated revenue was ₹46.7 crore, up about 14.5% from ₹40.8 crore, according to a report on the quarter. Including other income, revenue was reported at ₹49.90 crore.
Market commentary from 4 August 2026 noted that Q1 profit and revenue fell from the previous quarter and that interest costs rose, even though both grew year on year.
For the full year FY26, consolidated revenue was ₹185.02 crore and profit was ₹28.76 crore. Q4 FY26 consolidated net profit rose 94.92% year on year to ₹9.20 crore.
Promoter share sales
Between 20 August and 17 September 2026, promoter Kiran B Vadodaria sold shares on five dates. The largest single sale was 1 million shares on 17 September 2026 at about ₹12.48 per share.
A SEBI disclosure under Regulation 29(2) of the Substantial Acquisition of Shares and Takeovers Regulations, dated 9 September 2026, records a pre-sale holding of 6.77%, or 26,680,065 shares. It lists 640,368 shares sold on 7 and 9 September 2026, leaving a post-sale holding of 6.61%. Some secondary sources give a different post-sale figure, so the filing is the reference point here.
The promoter group's overall holding was 61.90%, unchanged across recent quarters.
Valuation and market reading
Market commentary dated 21 October 2026 gave the company's return on capital employed as 22%, with enterprise value to capital employed of 2.1. Commentary dated 22 October 2026 cited return on capital employed of 26.01% for the half-year. The two figures are from different dates and calculations.
The same 22 October commentary describes the share price trend as negative and questions what is driving the weakness while the broader market is rising. The commentary does not give a company explanation for the fall.
At the share price of about ₹10, the company's market capitalisation was about ₹435 crore as of 18 October 2026.
Governance
On 7 August 2026, shareholders approved Deep S. Vadodaria as Chairman and Managing Director and Prashant H. Sarkhedi as Whole-Time Director through a postal ballot. Related-party transactions for FY 2026-27 were approved through a postal ballot whose results were declared on 12 May 2026.
What it means for buyers
A fall in a listed developer's share price does not by itself change the price, possession date or terms of any home already booked or under construction. Reporting on this move does not link it to changes in project pricing or delivery.
GIFT City projects in the record
Nila Spaces has said it acquired 5,550 square metres of land in GIFT City for ₹342 crore for a residential project, according to The Realty Today. Reports describe the land as acquired through a competitive auction, with Nila Spaces as the highest bidder. The sources differ on the number of bidders, and the date of the acquisition is not clear from the reporting.
The planned tower is described as having development potential of 5.22 lakh square feet and a height of 100 metres. Total investment is put at about ₹750 crore, with topline projected to exceed ₹1,000 crore. Deep Vadodaria has said: "We are embarking on the construction of a 100-meter tower with an investment of Rs 750 crore."
Nila Vida, a 118-metre residential tower in GIFT City with studio to 3 BHK apartments, is listed as under construction.
GIFT City is an international financial services centre between Ahmedabad and Gandhinagar. GMRC invited bids in April 2026 for a 3.33 km extension of the Violet Line from GIFT City to Shahpur, with three stations, at ₹290.33 crore.
What comes next
The next disclosures to watch are the company's quarterly results and any further promoter share disclosures filed under SEBI rules. Investors will be able to compare any future quarterly figures with the nine-month and Q1 FY27 numbers reported so far.
Frequently asked questions
Why did the share price hit a 52-week low when profit rose?
The share price has fallen 46.49% over the past 12 months, while nine-month profit after tax rose 72.9%. The market commentary covering the move describes the divergence but does not give a company explanation for it.
How far has the stock fallen?
The stock touched ₹10.03 on 22 October 2026, after about ₹10.5 on 21 October 2026 and ₹10.66 on 16 October 2026. Its 52-week high has been reported between ₹19.75 and ₹19.97.
Did the promoter sell shares?
Promoter Kiran B Vadodaria sold shares on five dates between 20 August and 17 September 2026. A SEBI disclosure dated 9 September 2026 records a post-sale holding of 6.61% after 640,368 shares were sold on 7 and 9 September.
Does the share price affect homebuyers?
A share price move does not by itself change the price or possession terms of any existing booking or project.
What is the company's GIFT City project?
Nila Spaces acquired 5,550 square metres of land in GIFT City for ₹342 crore for a residential project. The planned tower is 100 metres tall with total investment of about ₹750 crore.